Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1887-01-01
THE BUSINESS OUTLOOK.
The New Year Opens with More Conf
dencp, it is Feared, than is
Wholly Warranted.
The Failures for tho Last Quarter OF 'S6
Larger than for the same Period in
'S5-Ihe Sky Overcast.
A Business Resume.

NEW YORK, Dec, 31.-R- G. Dun &
Co.'s weekly review of trade saws
Rarely has year opened with greater
disbursement thar the year 1886, rarely
has year closed with more confidence
The DISAGREEMENT was not wholly Justi-
fed and there is some reason to fear that
the confidence may be partly
unwarranted. The failures for the
year have been fewer than ia
1885 and the aggregate Of liabilities has
been smaller, but the average for the
year has been scarcely lower, and for the
last quarter the failures hsve been more
numerous ard larger than for the same
quarter Of 1885 The increase in the
amount of liabilities for that period
was no less than 10 per cent. Dur
ing the past N nth failures have been
unusual in amount Of liabilities without
known disturbance or depression in the
important br inches CT trade to cause
them. They come Ike bolts out of the blue
and seem TO indicate the unexpected eX-
pansion of credits. When it
is remembered that the familiar
causes Of such expansion have
existed, that the currency has been large
" increased, and that wild speculation
ran riot month 8go in the stock aud
produce markets. these failures with
their rising volumes of Indebtedness JUS
tify the fear that the confidence has
grown too fast. The natural inference is
hat some ITms anxious to recover in a
few months the losses of several
weary years have gone beyond their
depth. How much of uusoundness in
commercial credits has thus been pro-
duced it is not yet possible to judge.
During the past week legitimate
business has not been large in
volume. The dizziness usual in the closing
week of the year is reported from all
quarters, but II ough dealers are busy IN
making up accounts there is everywhere
a feeling of great confidence. Trade
during the past half year has
been very large and generally
enlarged, and the prevailing tendency
is to count upon a continued enlargement
for next season, ana it would be wise
not to forget that it is possible to build
too largely on the future, even in the
time of a real and healthy improvement.
Prices have advanced during the week
in nearly all the speculative markets. The
food of money from abroad stimulates
trading mere, while stringency is noted
at Boston, and the Chicago banks anx-
ious to keep Western money out of this
city, are talking Of paying interest on de-
posts.
Stocks are stronger in spite of the rise
in the rate of exchange, which indicates
that foreigners are selling to some ex-
tent.
Wheat has been active, war rumors
ruling, and has advanced q Gems, with
sales Of 81 ,000. 900 bushels in five days
Corn has advanced l cent. and pork
products are active, dressed hogs rising
.Cent and lard cent.
COTTON has st ffeDed on smaller re-
ceipts for the week and widely circulated
small crop estimates.
Coffee has advanced cent, oil p cents
and iron rs cents per t n, with S2l bid
for the M. iron, which Thomas & Co.
recently offered at $40.
Copper is weaker st $ll so. The pro-
ductinn fer the year has been only
I9, 10000 pounds less than in 1885, and
larger than in an other year, while the
consumption appears to have increased 26
per cent for the year.
Coal carriers are all embarrassed by q
lack of rolling stock, he output for the
year having been the largest on record.
The statistics of the failures for the
year 1856 show slight failing off COM
pared with 1885. The number in the
United States is 1884 against 1851
in 1885, d. crosse OF S03.
Liabilities are STA, 600 OO0 against Sl24,-
coo, coo in 1885 The failures for the last
quarter Of 1886, show 274G against 2460
in the last quarter of 1885. The lisbili-
ties were respectively S37,0o0,00O and
S25 ,OQO, 900